SECUREKLOUD TECHNOLOGIES REPORTS YOY REVENUE GROWTH OF 22.2%; RECURRING REVENUE 42.4% IN Q1 FY23

CHENNAI, India, Aug. 12, 2022 /PRNewswire/ -- SecureKloud Technologies Ltd. (NSE: SECURKLOUD.NS) (BSE: SECURKLOUD.BO), a cloud-native company guiding large organizations in cloud transformation across multiple industry verticals, announced its consolidated audited financial results for the quarter ended June 30, 2022, as approved by its board of directors.

SecureKloud Technologies Ltd reported 22% growth in revenue during the period ended June 30, 2022 (Q1 FY 22-23) as compared to the period ended June 30, 2021 (Q1 FY 21-22). There has been a positive momentum in revenue growth over last year and recurring revenues continue to grow steadily at 42.4% for Q1 FY 22-23. The company has reported growth in Platform and Managed support services revenue from 36% Q1 FY23 as compared to 27% Q1 FY22.

Thyagarajan R, Whole Time Director, and Group CFO of SecureKloud Technologies said, "In line with SecureKloud Technologies' mission of changing the world through digital transformation, we are pleased to announce that we have launched two innovative platform-based services – CloudEdge and DataEdge. Focusing on a fully secure and compliant platforms along with AI powered data analytics tool, we expect these digital transformation tools to strengthen our existing customer base through continued focus on customer needs as well as grow business across multiple geographies. Platform and Managed support services revenue continues to grow and came in at 36% in Q1 FY23 demonstrating a consistent progress towards our long-term operating model. We are confident of getting into the digital transformation journey of businesses of all sizes and structures, serving our clients better, and delivering on the sustained and growing demand for safe and secure digitally transformed environments."

Key Financial Highlights:

• Revenue growth of 3.6% QoQ and 22.2% YoY
• ICT revenue growth of 19.9% QoQ and 14.4% YoY
• Recurring revenue growth of 6.3% QoQ and 40.6% YoY

Key Updates

• Healthcare Triangle Inc., raised approximately INR 5,119 lakhs (USD 6.5 million) through private placement
• Launched DataEdge, a cloud-based data analytics and AI engineering platform.
• Launched Neutral Zone engineered on DataEz platform which facilitates secure data sharing for drug discovery
• Recurring revenues continue to grow steadily

Business highlights for the quarter

Healthcare and Life Sciences

• Added 4 new customer logos
• Signed a deal for cloud migration and managed services with a leading American telecommunications company
• Added a new logo of a client specialized in oncology device manufacturing
• Added a new logo of a client specialized in genomics-based drug discovery
• Increased wallet share with a global biotechnology giant
• Launched Healthcare Triangle in Singapore with focus to bolster digital healthcare across the Asia Pacific (APAC)

Other Verticals

• Signed a contract with a leading Logistics company to offer cloud managed services
• Added new logo of a multimillion-dollar asset management company for managed services
• Signed new deal for a social impact platform to support its cloud migration and managed services

About SecureKloud Technologies Ltd.:

SecureKloud is a leading Global IT Business Transformations, Secure Cloud Operations and Solutions Provider based in the San Francisco Bay area and a publicly listed company on Indian Stock Exchanges (NSE and BSE). The company is a 3rd party Audited Next-Gen AWS MSP Partner, AWS Premier Partner, GCP (Google Cloud Platform) Premier Partner, and an ISO 27001 certified cloud service provider. For more information, please visit: www.securekloud.com 

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